Update on US Dollar to Peso Exchange Rate

Update on US Dollar to Peso Exchange Rate is an update to the important issue of US Dollars to Mexican Pesos exchange rate.

I recently saw some information on this exchange rate situation, so I want to update you on this.

US Dollar against the Mexican Peso

Actually, this situation is great for those earning Mexican Pesos. If they are changing pesos to US dollars, they are getting more purchasing power. But for us, we are going the other way, US dollars to pesos, and it is killing us.

At the first of 2023, the exchange rate was 1 dollar gets 19.60 pesos. On July 28th of this year, the rate was 16.62. That is when the peso was the strongest. If I exchange $1000 US dollars in January of this year, they would give me 19,600 pesos. Our weekly grocery bill is usually $3,000 pesos. We are two people. This does not count vegetables and meat, but does count fish, which we eat at least once or twice a week. We are trying to get it below $2000. Some week we do achieve this. So $3000 pesos was $153 dollars, and $2000 pesos was $102.04 dollars in January. On July 28th, $3000 pesos was $180 and $2000 pesos was $120.33. At times, our weekly grocery bill can reach up to almost $4000 pesos which would be $240.67 US dollars in July.

Here they attribute this tendency to the US inflation rate. At the time this article was published, the peso dollar rate was $17.57.

Why does this matter?

Actually, this plays with our income and what we can buy (our purchasing power) with it. Our income is very volatile. For example, from one month to another, we normally have churches and donors that will give a set amount every month, others every other month, and some every 3 months. Everybody is having economic hard times, and as such, some people have promised a set amount every month, and they may skip 4 to 5 months. Some drop out completely without communicating to us, and we do not know if they are trying to return to supporting us, or they have disbanded as a church.

At times, a $100 a month donor will give us $150 or every $500. There is no way to know ahead of time what is happening nor what the future holds. We have to try to save, and at this point in time, my income is pretty much all accounted for in one thing or another.

We greatly need your prayers.

Update on US Dollar to Peso Exchange Rate